CIMB Research has Buy on Genting Malaysia at RM3.58
Page 1 of 1
CIMB Research has Buy on Genting Malaysia at RM3.58
KUALA LUMPUR: CIMB Equities Research has a technical Buy on Genting Malaysia at RM3.58, at which it is trading at FY12 price-to-earnings of 13.8 times and price-to-book value of 1.7 times.
It said on Thursday, June 23 that Genting Malaysia appears to be trading within its bullish flag pattern since hitting a high of RM3.84 in April. If prices can hold on steady above its recent low of RM3.52, there is a good chance that the candles may take out its 50-day SMA and flag resistance soon.
“Technical landscape is neutral with a slight positive bias. The RSI appears to have built a base above the 40-pts mark, which should be positive for the stock,” it said.
CIMB Research said risk takers may start to buy now while others should wait for a push above its 50-day SMA before taking any position.
“The next resistance level is seen around the RM3.77-RM3.84 levels, followed by RM3.94-RM4.00. Always place a stop at below RM3.52 or below RM3.46, its 200-day SMA, just in case,” it said.
It said on Thursday, June 23 that Genting Malaysia appears to be trading within its bullish flag pattern since hitting a high of RM3.84 in April. If prices can hold on steady above its recent low of RM3.52, there is a good chance that the candles may take out its 50-day SMA and flag resistance soon.
“Technical landscape is neutral with a slight positive bias. The RSI appears to have built a base above the 40-pts mark, which should be positive for the stock,” it said.
CIMB Research said risk takers may start to buy now while others should wait for a push above its 50-day SMA before taking any position.
“The next resistance level is seen around the RM3.77-RM3.84 levels, followed by RM3.94-RM4.00. Always place a stop at below RM3.52 or below RM3.46, its 200-day SMA, just in case,” it said.
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
Similar topics
» CIMB Research maintains Outperform on Genting Malaysia, target price RM5.10
» CIMB Research has technical buy on Ho wah Genting at 37 sen
» CIMB Research has Sell on Genting Bhd
» CIMB Research expects Malaysia’s GDP to grow at 3.8% in 2012
» CIMB Research Neutral on Malaysia, year-end target 1,640
» CIMB Research has technical buy on Ho wah Genting at 37 sen
» CIMB Research has Sell on Genting Bhd
» CIMB Research expects Malaysia’s GDP to grow at 3.8% in 2012
» CIMB Research Neutral on Malaysia, year-end target 1,640
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum
|
|